CFOs slowly seeing link between employee wellness and productivity

Health and wellness experts have proclaimed that companies need to focus on improving employee health […]

Health and wellness experts have proclaimed that companies need to focus on improving employee health to see a real impact on the bottom line.

And now it appears that chief financial officers are slowly recognizing the link between employee health and workforce productivity. Recently released results of a survey show that a full 69 percent either “agreed” or “strongly agreed” that “promoting healthy behaviors” is a company priority.

Further, 62 percent of senior finance executives surveyed felt that improving health of employees to boost workforce productivity was “moderately important.” Another 30 percent said that it was “very important.”

These are findings of the third annual survey conducted by Integrated Benefits Institute and CFO Research Services, which evaluated the “attitudes, beliefs and experiences of CFOs about the employer’s role in managing health, absence, productivity and disability.” A total of 313 senior finance executives participated in the online survey that represented companies with more than $100 million in annual revenue.

While senior finance executives seem to understand the link between employee health and wellness, and workforce productivity, they rank other aspects such as employee satisfaction and a skilled workforce to be more important in this context.

The responses also underscore the fact that to encourage financial personnel to invest in improving workforce health, benefits professionals need to present concrete data — for instance, reduced claims costs for the company. In fact, 70 percent of survey respondents said that “claims costs” data is the most “credible information” when it comes to making investment decisions to encourage health and wellness.

And a CFO of a Minnesota software health and wellness startup that works with large self-insured employers agrees.

“Show me real ROI through actual healthcare claims reductions,” wrote Gregg Waldon, CFO of RedBrick Health, with a wink and a nod to the company’s own ability to do just that. “Give me that and I’m one happy CFO.

 

[Photo Credit: Ambro]

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